ExtraOrtho website Funding in 2009 Zimmer press release
Memphis-based ExtraOrtho is acquired by Zimmer Holdings of Warsaw, Indiana (Memphis Commercial Appeal)
Memphis-based ExtraOrtho, a medical device company that received funding from Innova and TNInvestco, has been acquired by Zimmer Holdings, company officials have announced.
The deal includes ExtraOrtho’s external fixation line, XtraFix External Fixation System. Financial terms were not disclosed.
In a statement released by the Warsaw, Ind.-based company, Jeff Paulsen, president of Zimmer Global Businesses, said, “This acquisition further enhances Zimmer’s position in the vital and growing external bone fixation market. The XtraFix technology is one of the most simple and effective solutions for external fixation, and we’re confident that trauma care professionals will welcome this addition to Zimmer’s comprehensive portfolio of external and internal fixation products.”
The deal marks the first liquidation for Memphis-based Innova, as well as the first liquidation for any TNInvestco fund, said Ken Woody, president of Innova.
“This is nice validation of the program and Innova and it’s nice that ExtraOrtho came out of local orthopedic talent,” Woody said.
“They built a great company based on innovative products and were purchased by the number two company globally in orthopedics. They were able to spin off two more companies and will keep those companies and those jobs here in Memphis and that’s a great win across the board.